Forex Broker – FBS – Wiki Payments

FBS

FBS is an online broker that offers financial market trading in forex and CFDs. Our review in 2020 takes a thorough look at the broker’s legitimacy, leverage offering, spreads, and minimum deposits. Sign up for an FBS account and start trading.

History & Headlines

FBS is a global broker founded in 2009. In the EU, FBS is operated by Tradestone Ltd and regulated by the Cyprus Securities and Exchange Commission (CySEC). The global branch is run by FBS Markets Inc and regulated by the International Financial Services Commission of Belize (IFSC).

FBS has a head office location in Cyprus and claims to have over 15 million active traders across more than 190 countries, from Malaysia and Indonesia to South Africa, Pakistan and the EU.

Trading Platforms

FBS uses a non-dealing desk (NDD) system with STP for rapid order execution. After registration and login clients have a choice of two platforms to access the markets

MetaTrader 4

MT4 is a market-leading platform that FBS clients can download for PC. The trading platform includes a range of features:

One-click execution and copy-trading
Expert Advisors (EA) service and APIs
Wide range of technical indicators and charting tools
Support for clients using a virtual private server (VPS)

The global branch of FBS also offers MT4 MultiTerminal, which allows clients to operate multiple accounts simultaneously.

MetaTrader 5

This broker recently added MT5 integration to its portfolio. This platform is a recent update to MT4 with greater versatility that offers the following:

Hedging & netting
Market depth view
More technical indicators
More order types and timeframes

MT4 and MT5 are also both available without a download via any browser through the WebTrader solution. This service works across all operating systems and has all the features of the original software.

Markets

Clients can access a wide range of assets for trading:

Forex – 28 standard pairs plus 16 exotics
Metals – four precious metals
Energies – WTI and Brent crude oil
Stocks (global only) – 40 company shares
Indices – four indices including the NASDAQ

Unfortunately trading on the FTSE100 is not offered and neither is cryptocurrencies, such as Bitcoin.

Trading Fees

Spreads offered by FBS vary by account type and region. For EURUSD, the global firm offers a spread of 3.0 pips on its Micro account, 1.1 on its Standard and Cent accounts and zero pip spreads on its Zero and ECN accounts. In the EU the same spread is 0.7 pips with both the Standard and Cent accounts. Our review was pleased to see competitive spreads with the Zero and ECN accounts.

The global branch charges a fixed rate commission of $20 per lot on the Zero Spread account and $6 on the ECN account. It also charges $3 for stock trades and $25 for CFD trading.

FBS charges overnight rollover fees (swap-free is available) and a cancellation fee of €5 for transactions that have taken advantage of price latency. Accounts dormant for 180 days are charged a €5 monthly fee.

FBS Leverage

The maximum leverage available depends on account type and branch. In the EU the broker provides leverage up to 1:30 on Standard and Cent account types. Globally it offers up to 1:1000 on the Cent account, 1:500 on the ECN account, and 1:3000 on other account types.

FBS has a margin call of 40% and lower, where after it is entitled to close a client’s position.

Mobile Apps

FBS Trader App

The owner and CEO have ensured that FBS Trader is a free and fully-featured trading app. It can be downloaded to Android (APK) devices from Google Play. Outside the EU it’s also available on iOS. The broker’s downloadable app offers forex and top instruments for trading, alongside real-time stats and easy management. Both MetaTrader platforms are also available as mobile apps from the App Store and Google Play. The apps have the main features of the native platforms including technical analysis with the convenience of one-click trading on-the-go.

Payments

The minimum deposit at the online forex broker is different for each account type and trading region. The EU firm requires an initial deposit of €10 on the Cent account and €100 on the Standard. The global branch offers minimum deposits of $1, $5, $100, $500, and $1000 for the Cent, Micro, Standard, Zero Spread, and ECN accounts respectively. Our review was pleased to see the low minimum deposit offering.

Several deposit and withdrawal methods are available including wire transfer (EU only), Visa, and electronic payment systems, such as Skrill and Neteller. Deposits are instant for all methods bar wire transfer and withdrawals take up to 48 hours. Commission fees apply to withdrawals at the global FBS firm and identifying documents may be requested.

Demo Account Review

FBS offers demo versions of the Cent and Standard accounts in the EU. MT4 and MT5 integration are available and a range of instruments are offered to practice trading with zero deposit requirement. Once comfortable with the broker’s services, you can then sign up for a live account.

Trading Bonuses

FBS has a wide selection of promotions and bonuses advertised on its global website. For example, the broker offers a Trade $100 bonus with no deposit necessary. The broker credits clients with $100 and if the client has 30 active trading days with 5 lots traded, the bonus can be withdrawn. FBS also offers a 100% deposit bonus, which doubles the deposit available for trading, and many contests.

Licensing

FBS is a legitimate broker with regulations from respected authorities. The company that owns the EU branch of FBS is regulated by the Cyprus Securities and Exchange Commission (CySEC). The global branch is regulated by the International Financial Services Commission of Belize (IFSC).

In the EU, the broker also offers negative balance protection to retail clients. Overall, we’re happy FBS is not a scam.

Note, traders from the USA cannot register for an account, though clients from most other countries are accepted, including Canada, India and Nigeria.

Additional Features

The FBS website has an analysis section with resources including forex-related news, market updates, and a Forex TV feature that displays informational videos, weekly insights, and trading plans. This broker also provides an economic calendar and forex calculators alongside extensive educational materials such as live webinars and tutorials.

Trading Accounts

New clients have the option of several live account types. In the EU, the broker offers the Standard and Cent accounts. The global branch additionally offers the Micro, Zero Spread, and ECN account. Order volumes are the same across account types. The ECN account has no trading limits and market execution is by ECN, unlike the other accounts which use STP. In general, the more you can deposit the higher the account tier and the more competitive the trading requirements.

When opening an account, you’ll need to submit documents to verify your name, address and the country you’re registering from.

Pros and Cons

Benefits

Advantages of trading with FBS include:

Trading in the Forex (31 currency pairs, 2 precious metal, CFD oil);
Minimum deposit – $ 1;
The greatest leverage up to 1: 3000;
No re-quotes;
Tight spreads from 0 pips;
Broker works on ECN / STP model and does not come into conflict with traders;
Availability Swap-free accounts and cent;
Popular shopping MT4 and MT5 platforms;
No deposit bonus of $ 123 (the bonus is unremovable, is available for 7 days, followed by burns, the profit can be displayed after working 1: 3 at the end of each month, for example, if you opened 10 lots, the profit of the conclusion will be $ 30, no verification required);
100% bonus on the first deposit replenishment;
Deposit insurance up to 100% (compensation of lost funds when the necessary trade);
Free VPS-server under the conditions;
Cashback from FBS – a return to $ 15 per lot;
VIP-status for customers with a deposit of $ 10 000 (priority in processing applications for withdrawals, account manager of your country, the exclusive VIP gifts);
Payment of commissions at replenishment and withdrawal of funds;
5-digit quotes for all accounts;
Permitted trading advisors, scalping and all kinds of trading strategies;
Regular contests and promotions;
Daily analyst;
A quick withdrawal of funds in any currency and payment system;
Free Forex Training;
Round the clock technical support;
Profitable affiliate program.

Drawbacks

Bad areas flagged in our review include:

Fewer account and trading options in the EU
Commissions payable on many trade types at the global firm

Trading Hours

The FBS broker website is available at all times. Opening hours for each asset depends on the market and timezone, but forex runs 24 hours a day on weekdays. The broker also provides a virtual private server (VPS) service, which allows the client to keep their trading platform on a virtual machine 24/7.

Customer Support

Customer support is available in English, Spanish, Portuguese, French, German and Italian:

EU

Email – info@fbs.eu
Contact number – +357 25313540
Address – Vasileos Georgiou A 89, Office 101, Potamos Germasogeias 4048, Limassol, Cyprus

Global

Contact options including live chat, callback, and WhatsApp are available on the global website.

Trader Safety

FBS ensure client personal information and privacy is safeguarded. Transactional information is also protected using transport layer security (TLS). The MetaTrader platforms also offer dual-factor authentication at the login stage for added security.

FBS Verdict

FBS is an international forex broker that offers low minimum deposits and a variety of trading accounts with MT4 and MT5 integration, alongside the FBS Trader app. Spreads are competitive, and both novice and advanced traders will feel at home with this broker.

Accepted Countries

FBS accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries. Traders cannot use FBS from United States, Japan, Canada, Myanmar, Brazil, Israel, Iran.